DoneDeals
THEEDGE SINGAPORE | September 23, 2013 •1
Done Deals
THEEDGE SINGAPORE | September 23, 2013 • 1
bRYAN tAY, THE EDGE SINGAPORE
The Edge Singapore Property Transaction Tracker
An 872 sq ft, two-bedroom unit at The Bayron transacted at $1.5 million or $1,720 psf recently
The Bayron at St Thomas Walk sees activity | BY AMY TAN |
T
he St Thomas Walk neighbourhood (located off River Valley Road) is seeing a flurry of activity, particularly at the 96-unit The Bayron, with four transactions in August. The freehold condominium block at 40 St Thomas Walk was completed in 1998, and developed by
Chee Swee Cheng Group, the owner of The Heeren shopping mall on Orchard Road that’s undergoing a façade change. There are usually very few transactions in The Bayron. Prior to the spate of transactions in August, the last time units changed hands in the condo block was in 2011. Agents who spoke to The Edge Singapore believe that the recent transactions at
The Bayron were sparked by the pipeline of new condos in the St Thomas Walk neighbourhood. “Whenever you have a new launch or project that is about to complete, there tends to be a lot of focus in the area as real estate agents make cold calls or give flyers to owners of nearby properties to encourage them to sell as there is buyer demand,” explains Nicholas Mak, executive director of research and consultancy at SLP International Property Consultants. Across the street from The Bayron is the freehold Espada by Novelty Group, where construction is at an advanced stage and the project is set to obtain temporary occupation permit (TOP) in 2014. The 232-unit development has a mix of onebedroom, one-bedroom-plus-study, two-bedroom apartments, and penthouses ranging from 344 to 1,313 sq ft. According to URA data, 18 units were still available at end-August. The last transaction recorded at the project was for a 355 sq ft, one-bedroom apartment on the fourth floor, which was sold for $945,000 or $2,660 psf in July. Next to Espada is the freehold Skyline 360 developed by Hiap Hoe. The newly completed project has a mix of 61 three- and fourbedroom apartments and penthouses with unit sizes of between 1,733 and 6,523 sq ft. According to URA data, the latest median price achieved in Skyline 360 was $2,022 psf, and only five units remain unsold as at end-August. The Bayron contains exclusively twoand three-bedroom units. Given that it was completed 15 years ago, units are spacious with two-bedroom units sized from 818 to 1,335 sq ft and three-bedroom units of 1,302 to 1,910 sq ft. The most recent transaction last month was for a 1,432 sq ft three-bedroom unit on the fourth floor that changed hands for $2.33 million ($1,628 psf). Another unit that was sold with a caveat lodged on the same day (Aug 30) was for an 872 sq ft, two-bedroom unit on the second floor that fetched $1.5 million ($1,720 psf). Two days earlier, a 904 sq ft, two-bedroom unit on the third floor was sold for $1.55 million ($1,709 psf), while another 1,431 sq ft, threebedroom apartment on the third floor was sold for $2.32 million ($1,621 psf). Phylicia Ang, executive director of residential at Savills Singapore reckons that the units at The Bayron could have been held for long-term investment, and the owner could
2 • THEEDGE SINGAPORE | September 23, 2013
Done Deals
The median price recorded for a unit at Skyline 360 in August was $2,022 psf($1,376 psf) last month
be selling some units now to realise capital gains. In 2000, after the project was completed, some units were first sold at prices ranging from $1,100 to $1,200 psf, observes Ang. Hence, the seller would be realising gains of 35% to 56.4%, based on the selling price of $1,621 to $1,720 psf. “There are some buyers who prefer older developments because the layout is better and the units are bigger,” she says. “Even though The Bayron was completed in 1999, the development is well maintained and still looks new. Hence, prices are 20% below those of the newer condos.” With spacious two- and three-bedroom units, The Bayron fills a gap and caters to a segment between Espada, which has mainly compact one-and two-bedroom units and Skyline 360, which has exclusively three-and four-bedroom units. “At Espada, most of the units are shoeboxes with some as big as hotel suites while Skyline 360 has biggerunits, which also means a higher quan-
Established in 1855, Savills is a global real estate services provider listed on the London Stock Exchange with rich heritage.
tum price,” says SLP’s Mak. Given The Bayron’s achieved selling price, and current market rental rate of $5.16 psf for the location, rental yield for investors would work out to around 3.5%, which is higher than the average 2% yield seen in most prime Orchard Road district condos, points out Savills’ Ang. An upcoming project at St Thomas Walk that is yet to be launched is Bukit Sembawang’s 219-unit, high-end condo in two towers of 35 and 36 storeys. Bukit Sembawang Estates purchased the former Airview Tower in an en bloc deal in 2007. Perhaps, the launch of a new development on the site will trigger another spate of transactions at the neighbouring The Bayron. Ang sees properties at St Thomas Walk appealing to both locals and foreigners owing to their proximity to the Orchard Road shopping strip and international schools such as Chatsworth International School E and Overseas Family School.
Savills, your world class property adviser in global capitals.
Great news for your capital. showcase.savills.com.sg
Savills (Singapore) Pte Ltd | +65 6100 3266 | international.resi@savills.com.sg | Agency No. L3009688B
THEEDGE SINGAPORE | September 23, 2013 •3
Done Deals
Apartment and condo transactions with contract dates from Aug 30 to Sept 6 Project Property Tenure CONTRACT Type DATE
Floor Area Transacted Unit Price Completion (sq ft) Price ($) ($ psf) Date
Type of Purchaser Sale Address
District 1 THE CLIFT
Apartment
99 years
September 2, 2013
506
$1,190,000
$2,352
2011
Resale
HDB
District 4 CORALS AT KEPPEL BAY
Condominium
99 years
September 3, 2013
TERESA VILLE
Condominium
Freehold
August 30, 2013
990
$2,237,680
$2,260
Uncompleted
New Sale
HDB
1,356
$1,655,000
$1,220
1985
Resale
HDB
District 5 HUNDRED TREES
Condominium
956 years
September 5, 2013
484
$735,000
$1,517
2013
Sub Sale
SUNGROVE
Semi-Detached House
99 years
September 3, 2013
8,267
$3,200,000
$387
1997
Resale
Private
HDB
ONE-NORTH RESIDENCES
Apartment
99 years
September 2, 2013
980
$1,530,000
$1,562
2009
Resale
Private
CARABELLE
Condominium
956 years
September 2, 2013
1,744
$2,337,000
$1,340
2009
Resale
Private
HUNDRED TREES
Condominium
956 years
August 31, 2013
1,615
$1,790,000
$1,109
2013
Sub Sale
Private
NEWEST
Apartment
956 years
August 30, 2013
2,400
$2,181,600
$909
Uncompleted
New Sale
Private
District 8 PARC SOMME
Apartment
99 years
September 6, 2013
441
$706,000
$1,600
2012
Resale
Private
CITY SQUARE RESIDENCES
Condominium
Freehold
September 6, 2013
1,518
$2,000,000
$1,318
2008
Resale
Private
8 FARRER SUITES
Apartment
Freehold
September 5, 2013
592
$1,019,500
$1,722
Uncompleted
New Sale
Private
8 FARRER SUITES
Apartment
Freehold
September 4, 2013
592
$1,013,000
$1,711
Uncompleted
New Sale
Private
8 FARRER SUITES
Apartment
Freehold
September 3, 2013
624
$1,066,500
$1,708
Uncompleted
New Sale
Private
PARC SOMME
Apartment
99 years
August 30, 2013
581
$860,000
$1,480
2012
Resale
Private
District 9 ILLUMINAIRE ON DEVONSHIRE Apartment
Freehold
September 6, 2013
721
$1,660,000
$2,302
2011
Resale
HELIOS RESIDENCES
Apartment
Freehold
September 2, 2013
1,916
$6,400,000
$3,340
2011
Resale
Private HDB
VISIONCREST
Apartment
Freehold
September 2, 2013
915
$2,100,000
$2,295
2007
Resale
Private
THE BAYRON
Condominium
Freehold
August 30, 2013
872
$1,500,000
$1,720
1999
Resale
Private
THE BAYRON
Condominium
Freehold
August 30, 2013
1,432
$2,330,000
$1,628
1999
Resale
Private
District 10 VERDURE
Condominium
Freehold
September 5, 2013
1,066
$2,050,000
$1,924
2012
Sub Sale
Private
CLUNY PARK RESIDENCE
Condominium
Freehold
September 5, 2013
1,593
$4,782,000
$3,000
Uncompleted
New Sale
Private
JERVOIS GROVE
Apartment
Freehold
September 5, 2013
1,410
$1,900,000
$1,347
1986
Resale
Private
VOLARI
Condominium
Freehold
September 2, 2013
1,324
$3,000,000
$2,266
2012
Resale
Private
KINGSVILLE
Semi-Detached House
102 years
August 30, 2013
2,799
$4,500,000
$1,609
1999
Resale
Private
District 11 HILLCREST PARK
Semi-Detached House
Freehold
September 3, 2013
3,638
$6,600,000
$1,812
Unknown
Resale
Private
VILLAS @ GILSTEAD
Terrace House
Freehold
September 3, 2013
4,015
$4,200,000
$1,046
2011
Resale
Private
THE SHELFORD
Condominium
Freehold
September 2, 2013
1,033
$1,770,000
$1,713
2005
Resale
Private
District 12 TREVISTA
Condominium
99 years
September 5, 2013
1,281
$1,800,000
$1,405
2011
Resale
HDB
4B WHAMPOA DRIVE
Apartment
Freehold
September 3, 2013
1,033
$1,080,000
$1,045
Unknown
Resale
Private
VISTA RESIDENCES
Condominium
Freehold
August 30, 2013
635
$1,010,000
$1,590
Uncompleted
Sub Sale
Private
District 13 BARTLEY RIDGE
Condominium
99 years
September 2, 2013
861
$1,049,900
$1,219
Uncompleted
New Sale
WOODSVILLE 28
Apartment
99 years
September 1, 2013
829
$1,100,000
$1,327
2011
Resale
Private
HDB
BARTLEY RIDGE
Condominium
99 years
August 30, 2013
850
$1,049,600
$1,234
Uncompleted
New Sale
Private
District 14 DAKOTA RESIDENCES
Condominium
99 years
September 2, 2013
1,044
$1,528,000
$1,463
2010
Resale
DAKOTA RESIDENCES
Condominium
99 years
September 2, 2013
1,830
$2,520,000
$1,377
2010
Resale
Private HDB
GRANDLINK SQUARE
Apartment
Freehold
September 2, 2013
1,109
$1,120,000
$1,010
2000
Resale
Private
THE OCTET
Apartment
Freehold
September 2, 2013
431
$594,000
$1,380
Uncompleted
New Sale
HDB
District 15 BLU CORAL
Condominium
Freehold
September 6, 2013
1,163
$1,300,000
$1,118
2009
Resale
HOMEY GARDENS
Apartment
Freehold
September 4, 2013
1,744
$1,700,000
$975
2001
Resale
Private HDB
BLU CORAL
Condominium
Freehold
September 4, 2013
2,056
$1,680,000
$817
2009
Resale
Private
ELLIOT AT THE EAST COAST
Condominium
Freehold
September 2, 2013
2,637
$2,600,000
$986
2012
Resale
HDB
NEPTUNE COURT
Apartment
99 years
September 2, 2013
1,636
$1,450,000
$886
1975
Resale
HDB
THE SILVER FIR
Apartment
Freehold
August 30, 2013
527
$808,100
$1,532
2013
Sub Sale
HDB
PARC ELEGANCE
Apartment
Freehold
August 30, 2013
474
$755,000
$1,594
Uncompleted
Sub Sale
HDB
District 16 HARVEY RESIDENCES
Terrace House
Freehold
September 6, 2013
1,744
$3,100,000
$1,778
2005
Resale
Private
Condominium
Freehold
September 5, 2013
1,389
$1,700,000
$1,224
2003
Resale
Private
COUNTRY PARK CONDOMINIUM
4 • THEEDGE SINGAPORE | September 23, 2013
Done Deals
Apartment and condo transactions with contract dates from Aug 30 to Sept 6
Project Property Tenure CONTRACT Type DATE
Floor Area Transacted Unit Price Completion (sq ft) Price ($) ($ psf) Date
Type of Purchaser Sale Address
THE CALYPSO
Apartment
Freehold
September 4, 2013
764
$933,888
$1,222
2005
Resale
HDB
BEDOK COURT
Condominium
99 years
September 2, 2013
2,271
$1,858,000
$818
1985
Resale
Private
AQUARIUS BY THE PARK
Condominium
99 years
August 31, 2013
1,324
$1,200,000
$906
2001
Resale
HDB
District 17 FERRARIA PARK CONDOMINIUM
Condominium
Freehold
August 30, 2013
958
$950,000
$992
2009
Resale
Private
Condominium
Freehold
August 30, 2013
1,281
$960,000
$749
2000
Resale
Private
BALLOTA PARK CONDOMINIUM
District 18 SIMEI GREEN CONDOMINIUM
Executive Condominium 99 years
September 4, 2013
1,701
$1,300,000
$764
1999
Resale
CITYLIFE@TAMPINES
Executive Condominium 99 years
September 2, 2013
1,184
$918,800
$776
Uncompleted
New Sale
Private
LIVIA
Condominium
99 years
September 2, 2013
915
$950,000
$1,038
Unknown
Resale
VUE 8 RESIDENCE
Condominium
99 years
August 30, 2013
1,346
$1,605,240
$1,193
Uncompleted
New Sale
Q BAY RESIDENCES
Condominium
99 years
August 30, 2013
883
$973,620
$1,103
Uncompleted
New Sale
Private
RIS GRANDEUR
Condominium
Freehold
August 30, 2013
1,109
$1,020,000
$920
2005
Resale
Private
HDB HDB Private
District 19 THE TEMBUSU
Condominium
Freehold
September 6, 2013
753
$1,150,520
$1,527
55 PAYA LEBAR CRESCENT
Detached House
Freehold
September 6, 2013
9,182
$8,700,000
$948
Uncompleted
New Sale
Unknown
Resale
THE TEMBUSU
Condominium
Freehold
September 5, 2013
753
$1,092,000
THE TEMBUSU
Condominium
Freehold
September 4, 2013
753
THE SCALA
Apartment
99 years
September 4, 2013
THE TEMBUSU
Condominium
Freehold
SERANGOON GARDEN ESTATE Terrace House THE TEMBUSU
Condominium
WATERTOWN
Apartment
Private HDB
$1,449
Uncompleted
New Sale
HDB
$1,164,000
$1,545
Uncompleted
New Sale
HDB
904
$1,228,000
$1,358
Uncompleted
Sub Sale
September 4, 2013
1,055
$1,584,000
$1,502
Uncompleted
New Sale
Private
999 years
September 4, 2013
2,153
$3,238,000
$1,505
Unknown
Resale
Private
Freehold
September 4, 2013
1,044
$1,532,000
$1,467
Uncompleted
New Sale
99 years
September 3, 2013
1,367
$1,901,200
$1,391
Uncompleted
Sub Sale
Private
2012
Sub Sale
Private
Uncompleted
New Sale
Private
2010
Resale
Private
HDB
HDB
SURIN VILLAS
Terrace House
Freehold
September 3, 2013
5,231
$2,650,000
$507
MIDTOWN RESIDENCES
Apartment
99 years
September 3, 2013
700
$837,520
$1,197
CHEPSTOW VILLE
Detached House
999 years
September 3, 2013
4,715
$3,000,000
$636
THE TEMBUSU
Condominium
Freehold
September 2, 2013
753
$1,133,000
$1,504
Uncompleted
New Sale
THE SPRINGBLOOM
Condominium
99 years
September 2, 2013
1,119
$1,300,000
$1,161
1999
Resale
THE TEMBUSU
Condominium
Freehold
September 2, 2013
1,044
$1,573,000
$1,507
Uncompleted
New Sale
Private
FONTAINE PARRY
Condominium
999 years
August 30, 2013
2,121
$2,238,000
$1,055
2010
Resale
Private
THE TEMBUSU
Condominium
Freehold
August 30, 2013
753
$1,212,000
$1,609
Uncompleted
New Sale
HDB
THE TEMBUSU
Condominium
Freehold
August 30, 2013
753
$1,230,000
$1,632
Uncompleted
New Sale
Private
THE TEMBUSU
Condominium
Freehold
August 30, 2013
1,044
$1,674,000
$1,603
Uncompleted
New Sale
Private
HDB HDB
District 20 HAPPY ESTATE
Semi-Detached House
Freehold
September 4, 2013
3,671
$4,020,000
$1,094
1984
Resale
BISHAN LOFT
Executive Condominium 99 years
September 4, 2013
1,378
$1,570,000
$1,140
2003
Resale
Private HDB
GRANDEUR 8
Condominium
99 years
September 3, 2013
1,227
$1,393,888
$1,136
2005
Resale
Private
SEMBAWANG HILLS ESTATE
Terrace House
Freehold
September 3, 2013
2,002
$2,000,000
$1,001
Unknown
Resale
Private
GRANDEUR 8
Condominium
99 years
September 2, 2013
1,227
$1,400,000
$1,141
2005
Resale
HDB
GRANDEUR 8
Condominium
99 years
September 2, 2013
1,722
$1,430,000
$830
2005
Resale
Private
District 21 SIGNATURE PARK
Condominium
Freehold
September 6, 2013
1,690
$1,760,000
$1,041
1998
Resale
Private
CLEMENTI PARK
Condominium
Freehold
September 4, 2013
1,346
$1,400,000
$1,041
1986
Resale
Private
SIGNATURE PARK
Condominium
Freehold
September 3, 2013
1,055
$1,145,000
$1,085
1998
Resale
Private
SPRINGDALE CONDOMINIUM Condominium
999 years
September 3, 2013
926
$1,055,000
$1,140
1998
Resale
Private
ROYAL COURT
Apartment
Freehold
September 2, 2013
1,270
$1,298,000
$1,022
1998
Resale
Private
THE CASCADIA
Condominium
Freehold
September 2, 2013
1,098
$1,725,000
$1,571
2010
Resale
Private
District 22 THE LAKESHORE
Condominium
99 years
August 30, 2013
926
$1,158,000
$1,251
2007
Resale
J GATEWAY
Condominium
99 years
August 30, 2013
495
$805,000
$1,626
Uncompleted
New Sale
Private HDB
District 23 HILLINGTON GREEN
Condominium
999 years
September 6, 2013
990
$1,088,000
$1,099
2002
Resale
Private
TREE HOUSE
Condominium
99 years
September 5, 2013
861
$1,025,000
$1,190
2013
Sub Sale
Private
KINGSFORD . HILLVIEW PEAK Condominium
99 years
September 5, 2013
1,098
$1,627,500
$1,482
Uncompleted
New Sale
CHESTERVALE
Executive Condominium 99 years
September 4, 2013
1,475
$1,070,000
$726
1999
Resale
Private
PALM GARDENS
Condominium
September 4, 2013
1,206
$940,000
$780
2000
Resale
Private
YEW MEI GREEN
Executive Condominium 99 years
August 30, 2013
1,432
$1,100,888
$769
2000
Resale
HDB
99 years
HDB
THEEDGE SINGAPORE | September 23, 2013 •5
Done Deals
Project Property Tenure CONTRACT Type DATE
Floor Area Transacted Unit Price Completion (sq ft) Price ($) ($ psf) Date
Type of Purchaser Sale Address
District 25 NORTHOAKS
Executive Condominium 99 years
September 3, 2013
1,948
$988,000
$507
2000
Resale
FORESTVILLE
Executive Condominium 99 years
September 2, 2013
1,033
$764,220
$740
Uncompleted
New Sale
HDB
FORESTVILLE
Executive Condominium 99 years
September 2, 2013
1,292
$962,640
$745
Uncompleted
New Sale
HDB
FORESTVILLE
Executive Condominium 99 years
September 2, 2013
1,399
$1,118,600
$799
Uncompleted
New Sale
HDB
TWIN FOUNTAINS
Executive Condominium 99 years
September 2, 2013
1,249
$920,480
$737
Uncompleted
New Sale
CASABLANCA
Condominium
August 30, 2013
1,130
$990,000
$876
2005
Resale
99 years
Private
HDB Private
District 26 BULLION PARK
Condominium
Freehold
September 5, 2013
1,873
$1,850,000
$988
1993
Resale
Private
District 27 THE ESTUARY
Condominium
99 years
September 6, 2013
1,216
$1,228,000
$1,010
2013
Sub Sale
HDB
1 CANBERRA
Executive Condominium 99 years
September 4, 2013
947
$692,000
$731
Uncompleted
New Sale
HDB
1 CANBERRA
Executive Condominium 99 years
September 3, 2013
1,044
$771,300
$739
Uncompleted
New Sale
HDB
SPRINGHILL
Terrace House
99 years
August 30, 2013
3,014
$1,600,000
$531
2005
Resale
HDB
YISHUN SAPPHIRE
Condominium
99 years
August 30, 2013
1,378
$1,020,000
$740
2001
Resale
HDB
District 28 SELETAR HILLS ESTATE
Semi-Detached House
THE TOPIARY
Executive Condominium 99 years
999 years
September 5, 2013
4,542
$4,550,000
$1,001
September 4, 2013
753
$583,924
$775
Unknown
Resale
Uncompleted
New Sale
DISCLAIMER: Source: URA Realis. Updated Sept 17, 2013. The Edge Publishing Pte Ltd shall not be responsible for any loss or liability arising directly or indirectly from the use of, or reliance on, the information provided therein.
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